Former Deutsche Bank trader in serious trouble for pocketing £3.4 million by manipulating markets

The Russian central bank is investigating the activities of former Deutsche Bank trader Yuri Khailov, who is accused of making a series of 8 trades between 2013 and 2015 on the Moscow Exchange that constitute market manipulation

The pledge to make individual interbank traders personally accountable for manipulating markets instead of purely censuring their employees continues as Russia’s central bank has today claimed that Yuri Khilov, whilst acting on behalf of the London operations of Deutsche Bank, which until this year was the world’s second largest FX dealer with 14.5% of the world’s FX volume going through its books, which has reduced this year to just 7.9%.

Mr. Khilov now finds himself accused of carrying out 300 billion rubles worth of trades in eight listed securities on the Moscow Exchange between himself and his relatives between January 2013 and January 2015, in which, according to the central bank, he bought and sold the assets within a few minutes in order to generate a profit.

A commercial statement was provided today by Deutsche Bank on the matter, saying “Deutsche Bank has conducted an internal investigation into the activities of the former employee and provided the market regulator with its results. We remain committed to working to detect and combat misconduct activities and will continue to closely cooperate with the authorities on such matters.”

The investigation by the central bank, which has now passed its findings onto law enforcement, took place with help from Germany’s financial markets regulator, BaFIN.

It is important to note that this particular investigation is a different matter and completely separate to another probe involving Deutsche Bank’s Moscow office and potential weaknesses in the safeguards surrounding so-called mirror trades, essentially in which one trading party mimics the actions of another.

Read this next

Digital Assets

BlockDAG’s Presale Achieves $9.9M: Aiming For A 5000-Fold ROI As Cardano’s Price Rises And Fantom Launches Sonic

Explore Cardano’s surge, Sonic’s efficiency, and why BlockDAG’s growth makes it the top crypto choice. A deep dive into the future of blockchain investments.

Digital Assets

US, UK probe $20 billion Tether transfers tied to Russian exchange.

U.S. and UK authorities are investigating the movement of $20 billion in the USD-pegged stablecoin tether (USDT) through Moscow-based exchange Garantex.

Digital Assets

BlockDAG Presale Raises $9.9M as Batch 5 Nears Sell-Out Amid Bonk’s Fluctuating Trading Volume & Spell’s Bullish Price

Explore BONK’s trading volume, SPELL’s market shifts, and why BlockDAG’s 10,000 ROI makes it an ideal crypto for savvy investors in 2024.

Digital Assets

Bybit expands into Europe amid regulatory scrutiny

Dubai-based cryptocurrency exchange Bybit is expanding its operations in Europe after encountering regulatory challenges in Hong Kong.

Digital Assets

Cathie Wood’s sponsored Bitcoin ETF sees historic $200 million inflows

The ARK 21Shares Bitcoin ETF (ARKB), co-sponsored by Cathie Wood’s ARK Invest, registered historic inflows exceeding $200 million on Wednesday, signaling a robust appetite among investors for Bitcoin-centric investments.

Digital Assets

Sam Bankman-Fried might see his 25-year sentence halved

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was sentenced to 25 years in federal prison by a Manhattan court on Thursday. This comes after he was convicted of defrauding customers and investors, with Judge Lewis Kaplan highlighting the potential future risks posed by Bankman-Fried.

Technical Analysis

EURJPY Technical Analysis Report 28 March, 2024

EURJPY currency pair under the bearish pressure after the pair reversed down from the major resistance level 164.25, which also stopped the sharp weekly uptrend at the end of last year,

Digital Assets

BlockDAG’s Presale Hits $9.9M, MultiversX & MINA Price Predictions Show Green

Read about BlockDAG’s promising $10 prediction and insights on MultiversX Price Prediction as MINA’s potential unfolds.

Digital Assets

Rockstar Co-Founder and All-star Line Up Join Advisory Board to Take Metacade into Post Beta Orbit

Metacade, the revolutionary Web3 gaming platform, prepares to streak out of beta with a slew of ground-breaking initiatives that will redefine the way blockchain games are developed.

<